(RTTNews) - Anthracite Capital (AHR) climbed in pre-market trading, up about 8 percent. The advance came after the company reported a rise in first-quarter profit.
The stock was up 65 cents around 8:25 am ET, rallying to $8.80. If pre-market gains hold, the stock will open at its highest level since late November.
Anthracite Capital reported that first-quarter net income available to common stockholders grew to $53.73 million or $0.79 per share from $24.00 million or $0.41 per share for the year ago quarter.
Net operating earnings were $23.98 million or $0.37 per share, higher than $18.66 million or $0.32 per share for the year ago period. On average, 5 analysts surveyed by First Call/Thomson Financial expected earnings of $0.30 per share.
Total income rose to $91.94 million from $83.36 million for the same quarter last year.
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